RSCF - Reflect Scientific looks like a good little company - float looks like around 30million, trading around 5 cents. Real revenues, near break even, no convertibles and almost no debt and about $175k cash on the books.
Caught my eye when I see they just got a patent on ice buildup on the inside of freezers.
A snippet:
<<The application solves the problem of internal icing within bio-sample storage freezers by introducing three new techniques to traditional mechanical freezers. Highly effective hybrid insulation technique, Internal purging using water vapor free air and Close tolerance fitment of internal sub-assemblies.>>
SIM.v/SYATF - Disappointing that we haven't heard an update on the Canadian & US carriers. They were targeting major Canadian carriers in Q1 and US in Q2. Given Q1 is nearly closed and we haven't heard anything seems bad news, hopefully they're just experiencing some timeline slippage vs having issues with acceptance.
This is normally a good price to add at but given the lack of news I'm holding back on buying any more.
edit - I just e-mailed Marc to let him know I think it is appropriate to issue an update to shareholders given the expectations that were set previously. I'll post an update if I get any kind of substantive reply
excellent video advertising the new UV-350 4G device for commercial truck drivers
Siyata had forecast Canadian Tier One carrier approval for the UV=350 in Q1 and US Tier One carrier approval in Q2.
Talked with company IR, Arlen Hansen of Kin Communications. He says approval is taking time but Siyata is close. I asked why not get more carrier approvals than one in US and Canada. He said it was the expense. Carriers require many third party tests and Siyata has to pay for it. Said US approval could cost $500K to Siyata.
But once sales take off, the other big carriers will be much more receptive to Siyata and subsequent approvals will go faster and be less expensive.
Siyata has several large fleets ready to test UV-350 as soon as it's approved. These are 5,000+ vehicle fleets. Siyata needs approval first, then fleet testing to go well and then sales will rise dramatically, which is saying something for a company that is already growing at 40% per year. In addition to sales growing, margins should grow. Most sales are in Israel and margins are dictated by the Israeli carriers who financed the development of the original legacy device, truckfone. Margins on the UV-350 are up to double the margins on the truckfone(40%).
But Arlen's most persuasive argument is WHY carriers will feature the Siyata product to their commercial fleet customers. Currently they generate no monthly fees from their commercial customers who use LMR, landbased mobile radio. Once they sell and install the UV-350, the carrier will get $30,40, $50/month/vehicle from their customer in cellular network fees. They could easily afford to discount the device or offer very attractive financing to get the monthly cell fees. The UV-350 is going to sell for around 1,000. Carrier's cost is around $600. With long term customers like huge fleets, they could conceivably give away the device and still make huge new revenues on an ongoing basis. Fleets don't change carriers like consumers. Education, training and change are huge costs for fleets. They are much stickier than consumers. If the carrier gives away the UV-350 at a cost of $600, they can recover the cost in a year from monthly fees. If the fleet is 5,000 vehicles, after one year, they generate $250,000/month in new fees that go on for several years before the fleet would think about changing.
Plus with the UV-350, the fleet is getting voice and data. With the LMR it is replacing, the fleet only gets voice.
So we are getting close to the big event for Siyata. A tiny percentage of US fleets would need to convert to transform Siyata into a $100 million rev/yr company. We should know by year end if Siyata has an approved device and start to see the impact on sales and profits. It will take some time for the carriers to sell this new approach to fleet clients and the bigger the client the more time it will likely take but Siyata has a clear advantage and so far is the only device offering so many services in one device that is built specifically for fleets.
I looked at AT&T first responder network site. They only have consumer type devices approved so far. Nothing like the UV-350. Apple Iphones and Sonim rugged hand helds were most of what is currently approved to operate on the network. I can't see First Responders using Iphones for their main communciation devices.
Siyata has had a dreary 9 months since peaking at C$.76 in 7/17. Hansen said in Canada, investors have been chasing Cannabis and Block Chain stocks. Even the Tier One carrier announcements probably won't light this stock on fire until investors see actual sales of significant size. But the reason I liked this stock and bought so many months ago is close. My cost is C$.28 so I've lost profits but not capital. I may try to find some cash to buy a little more.
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